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Newspaper
Preston Citizen
Location
Preston, Idaho, United States of America
Date
Feb 22, 1951
Page
13
The speaker laments inflation and shortages caused by policy and questions government integrity. They warn continued spending erodes public faith and calls for earned national unity rather than mere rhetoric.
A Wall Street Journal editorial recounts a friend who bought a new furnace he didn’t need yet. He borrowed money, fearing government rules could delay replacements, forcing him to wait for approvals and face possible winter shortages. Washington’s fear campaigns push consumer demand.
A survey of four hundred retailers shows most expect higher dollar volume in the near future but anticipate thinner profits due to rising costs. Advertising selling and payroll costs are expected to climb, with personnel and price pressures framing the outlook. Inflation is seen as hurting both retailers and consumers, improving receipts but squeezing margins.
Mark Sullivan analyzes the European joint army idea championed after Hoover's speech, distinguishing it from the North Atlantic pact. He cites German reluctance, French fears of a strong German force, and broader allied disunity and war weariness hindering consensus on an advance defense force.
Western European hesitation to join a joint European defense prompts U S concern about bearing the main burden. The discussion in Congress centers on limiting American liability and the possibility that air and sea power could win a war, influencing plans to send troops to Europe.
The piece argues for cooperative management of the US debt and money supply between the Treasury and the Federal Reserve. It rebukes rigid Treasury bias, warns against political infighting under Truman, and stresses flexible, practical policy to curb inflation and stabilize interest rates.
An old column reflects on a recent Griffin farm fire and public reactions. The piece cites Volunteer Chief Murphy decrying gawkers and cars blocking access, urging readers to consider fair share and temperance in the American way.
The text argues that price controls alone cannot defeat inflation and that reduced inflationary credit, stringent taxation, and a strong credit policy are needed. It warns that without disinflation measures, price controls risk corruption, black markets, and social unrest, urging emergency steps during mobilization.
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